Jump to content

Binance/U.S.dollar (BNBUSD) Elliott Wave Technical Analysis 25 January 23


Recommended Posts

Elliott Wave Analysis TradingLounge Daily Chart, 25 January 23,

Binance/U.S.dollar (BNBUSD) BNBUSD Elliott Wave Technical Analysis

Function: Follow trend Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next higher Degrees: wave III of Motive Details: Wave III is usually 1.618 x Wave I in length.

Wave Cancel invalid level: 220

Binance/U.S.dollar(BNBUSD) Trading Strategy: Binance coin has recovered well from the 220 level and managed to break the MA200, signaling the weakening of the downtrend. As a result, the trend may change to an uptrend. And there is a trend towards the price target at level 568, but even so, this is only the beginning of an uptrend. Price may be reversed. before rising again.

Binance/U.S.dollar(BNBUSD) Technical Indicators: The price is below the MA200, indicating a downtrend. The wave oscillators above Zero-Line Bullish momentum.

TradingLounge Analyst: Kittiampon Somboonsod

 

1348917920_BNBDay.thumb.png.adbcb9eeb9c7cd27d7cdc35a7489619a.png

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 25 January 23,

Binance/U.S.dollar(BNBUSD) BNBUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave (5)

Direction Next higher Degrees: wave ((1)) of Motive Details: wave(5) may end and the price throwback in wave ((2)) larger degree Wave Cancel invalid level: 254.8

Binance/U.S.dollar(BNBUSD) Trading Strategy: Binance Coin Wave (5) is likely to end. After the price is near the target price, it causes severe reverse. Causing the price to pass through the EW. Channel and also have the BEARISH Divergence signal, allowing us to expect the reverse of the wave ((2) at a large level, so should wait for the wave ((2) to complete to include the trend time.

Binance/U.S.dollar(BNBUSD)Technical Indicators: The price is above the MA200, indicating an uptrend. The wave oscillators have BEARISH Divergence signal the price may reversal.

1494682140_BNBH4.thumb.png.11574ee7385a3d11c47cd2763d520e31.png

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      22,108
    • Total Posts
      92,974
    • Total Members
      42,494
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    Mhamley89
    Joined 03/06/23 20:25
  • Posts

    • I don't know but it looks like a really awesome service Because I have come across all sorts of mixers in my work  
    • Charting the Markets: 2 June Indices rally as US agrees debt ceiling bill. EUR/USD, GBP/USD rally while EUR/GBP stabilises as US debt ceiling bill is passed. And WTI recoups recent losses while gold, silver on track for first weekly advance. Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 02 June 2023               This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
    • It was a blockbuster number yesterday for the ADP private payrolls, showing 278,000 jobs opened in May, while forecasts had been for 170,000.  Jeremy Naylor | Analyst, London | Publication date: Friday 02 June 2023 IGTV’s Jeremy Naylor suggests a similar upside surprise could see almost 300,000 jobs created under the non-farm payroll count with estimates for 190,000 job creations. The unemployment rate is seen rising one notch to 3.5%. (Video Transcript) NPFs: what to expect Could yesterday's strong private payrolls number from the ADP reading give us an insight into the potential upside risk to today's non-farm payrolls? That report from ADP yesterday showed 278,000 jobs opened in May - forecasts had been for 170,000. Now the NFP expectations, 190,000 job creations are forecast for the month of May proportionately using that ADP surprise. That would mean an upside reading for NFPs close to 300,000. Why the increase? Now, the unemployment rate is seen rising one notch to 3.5%. Why is that rising? When you've got that rise in the number of job creations, the unemployment rate is not taking the same data that the jobs numbers themselves are being produced from average hourly earnings. We're looking there for that to go up 0.3% month-on-month, 4.4% year-on-year, still below the rate of inflation. Now, this chart shows the unemployment rate back to pre-Covid-19 levels. It's clear that jobs have been created at an appreciable rate and this alongside a relatively strong GDP number and inflation coming down, there may yet be a soft landing for the US economy. But if the Federal Reserve (Fed) does continue to raise rates, things may get a little bit more sticky for the economy and a little bit more difficult to predict. This is a comparison of fed funds rates and US consumer price inflation (CPI) since January 2021. So you can see here the rate at which the US central bank has been piling the pressure on the monetary markets with that rise to five and a quarter percent. And at the same time, the CPI number is coming down, which is a good thing, but it's still not down to the 2% level, 4.9% is a long way away still from the 2% target. So the Fed is entitled still to have an excuse to raise interest rates. US dollar basket Let's take a look at what's been happening with the US dollar basket. Yesterday, we saw a pullback coming through as we saw money going into risk assets because of that rubber stamping from the Senate or the vote in the Senate to approve the budget that's now gone for the presidential seal. EUR/USD And we've seen a second day in a row of losses or the euro for the dollar basket as far as the euro/dollar is concerned, bouncing away from that 76.4% retracement. And I think now, you will have been stopped out if you were short on this, you would have been stopped out on this and hopefully you would have got some profits on the way down. So that's where things are ahead of non-farm payrolls out today at 13:30 UK time. And we will be live on the IG platform at 13:25 today.
×
×
  • Create New...